New Market Report: South Korea Information Technology Report Q4 2014

We expect spending g rowth in the South Korean IT market will be considerably lower than emerging markets in APAC, but considering the advanced state of the South Korean market, these growth rates are robust , particularly in comparison to EU markets . T he South Korean IT market is forecast to grow at a CAGR of 7. 5 % 2014-2018 to reach a value of KRW 37.9 trn in 2018. One reason for a relatively bullish outlook is the relatively underdeveloped software and services segment in South Korea, which give s great potential for growth when considered in the context of government efforts to promote emerging technologies. Meanwhile, in the hardware market , demand will be supported by short replacement cycles and demand for the latest innovative devices such as tablets and hybrids.

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Headline Expenditure Predictions

* Computer Hardware Sales: KRW14.0trn in 2014 to KRW17.6trn in 2018; compound annual growth rate (CAGR) of +5.8% in local currency terms. Increasing tablet and hybrid notebook demand will make a positive contribution to value growth over the medium term.
* Software Sales: KRW5.7trn in 2014 to KRW7.4trn in 2018, CAGR of 7.5% in local currency terms. The security software market is poised for strong growth due to tensions with North Korea, with local firms expected to benefit, while OS upgrades boosted spending in 2014.
* IT Services Sales: KRW8.8trn in 2014 to KRW12.8trn in 2018, CAGR of 10.0% in local currency terms. South Korean IT services adoption trails developed markets, but it is developing a leading position in emerging technologies, such as cloud computing, big data analytics and the Internet of Things.

Key Trends And Developments

The threat to the development of South Korea's IT market, and indeed the security of its economy and society, was highlighted in September 2014 when Hewlett Packard's security research team outlined threats emanating from North Korea's cyber warfare infrastructure including distributed...

The South Korea Information Technology Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering personal computers and software; semi-conductors, memory chips, integrated circuits and general components; the internet and IT solutions. It analyses analyses regulatory changes (licensing, customs and intellectual property protection) and competitive landscapes comparing IT companies by products, sales, market share, investments, projects and expansion strategies.

BMI's South Korea Information Technology Report provides industry professionals and strategists, corporate analysts, IT associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the IT industry in South Korea.

Key Benefits

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